pcJ News Briefs – CHAR Technologies Ltd. (TSX-V: YES) has received $1 million grant from the Government of Ontario through the Ontario Centres of Excellence (OCE).
CHAR has received initial funding of $237,759, and will receive three additional payments on milestone and project completion.
The grant is in support of CHAR’s current SulfaCHAR production project, which has previously received funding and support from both Sustainable Development Technology Canada (SDTC) and the Canadian Gas Association (CGA).
News Release
CHAR TECHNOLOGIES LTD. ANNOUNCES APPROVAL OF $1 MILLION GRANT
Toronto, Ontario – August 29, 2017
Not for distribution in the United States or through United States wire services.
CHAR Technologies Ltd. (the “Corporation”) (YES – TSXV) is pleased to announce that it has been approved for a grant totalling $1M provided by the Government of Ontario through the Ontario Centres of Excellence (“OCE”). The grant is in support of CHAR’s current SulfaCHAR production project, which has previously received funding and support from both Sustainable Development Technology Canada (“SDTC”) and the Canadian Gas Association (“CGA”).
“This grant will allow CHAR to both redeploy financial resources currently committed to the SulfaCHAR project, while at the same time will allow CHAR to expand the scope of the project,” said Andrew White, CEO of CHAR. “The funding recognizes the carbon-related benefits of the project, and will allow CHAR to more rapidly execute on the production and use of SulfaCHAR.”
Funding will be disbursed on completion of three milestones. CHAR has received initial funding of $237,759, and will receive three additional payments on milestone and project completion.
About CHAR
The Corporation is in the business of producing a proprietary activated charcoal like material (“SulfaCHAR”), which can be used to removed hydrogen sulfide from various gas streams (focusing on methane-rich and odorous air). The SulfaCHAR, once used for the gas cleaning application, has further use as a sulfur-enriched biochar for agricultural purposes (saleable soil amendment product).
About OCE
Ontario Centres of Excellence (OCE) drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario’s global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario’s industry, universities, colleges, research hospitals, investors and governments. A champion of leading-edge technologies, best practices and research, OCE invests in sectors such as advanced health, digital media and information communications, advanced manufacturing and materials, and cleantech including energy, environment and water. OCE is a key partner in delivering Ontario’s Innovation Agenda as a member of the province’s Ontario Network of Entrepreneurs (ONE). Funded by the Government of Ontario, the ONE is made up of regional and sector-focused organizations and helps Ontario-based entrepreneurs rapidly grow their company and create jobs.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Andrew White
Chief Executive Officer
CHAR Technologies Ltd.
e-mail: andrew.white@chartechnologies.com
tel: 647-968-5347